Project Management (Lecture 3)

1. Group Report
1. Group: Mizuki, Alfredo, Chetan, Eric, Gianlucca
1. Project Appraisal (Lecture 1)
2. Project life cycle (Lecture 2)
3. Stakeholder analysis (Lecture 2)
2. The plan itself is not important, its the process of planning!
1. Define Project Scope
2. List Activities WBS
3. Estimate Durations, Cost Time Resource
4. Establish Relationships sequence
3. Network Analysis- Time driven (resource usage and costs secondary)

1. modeling process (fine tune the model)
1. vary inputs, resources etc.
2. check key criteria (At Risk (TM) software)
3. Precedence Networks using Logic Link Line between Nodes
4. Node properties:
1. ES/EF (early start, finish), calculated during forward pass
2. LS/LF (late start, late finish), calculated during backward pass
3. TF = ES-LS (total float), when 0 it is a critical activity
1. line linking all the critical activities is the critical path
4. dur (duration), qty (quantity) -> together determine work rate
5. desc (description)
6. ID (task ID)
5. ACTIVITY
1. scope
2. cost
3. time
4. resource
6. Network Constraints: 
1. Finish to Start- default condition, act 2 can't commence until act 1 ends
2. Start to Start- two tasks begin together
3. Finish to Finish- example -> debris removal until drilling (ie rock, earth) finishes
4. Start to Finish- not encountered in practice
7. Example (units of duration are Days)
1. Act. ID, Description, Duration, Successors
2. START
3. A,FORM,2,B C
4. B,PLACE REBAR,4,D
5. C,PLACE CONDUITS/SLEEVES,3,D E
6. D, POUR CONCRETE,5,F
7. E,CLEARING SURROUNDING,2,F
8. F,SET CONCRETE,6
9. END
8. Forward pass
1. ordinal method- goes from the same point in every day (end of day 1 to end of day 3 for a two day activity)
2. date arithmetic- refers to the actual day (finish date - start date - 1) used by MS Project
3. EF+duration = EF
9. Free Float-is the amount 
10. Leads and Lags (adding constant times to tasks)
2.  Once a month is sufficient for MS Project Updating - Once a week is too frequent!
3. 4 Resources: Manpower, Money, Machines, Materials
4. Resource Smoothing- Must be done by hand (human involvement necessary?)
5. Effects of Risk on Time, Scope, Cost and Quality
1. identify probability of a risk, put them on an impact vs. probability
2. identify effect of risk
3. prioritize in terms of exposure, decide on mitigation
6. Business Risks- market responses, inflation, weather, technology performance, performance of resources (project or corporate), currency movement
1. insurable risks (pure risks)
1. property damage (third party liability)
2. loss of income
7. Differentiate between project risk and technical risk
1. project risks affect scope, time or quality
8. Stages and documentation
1. planning- risk management plan
2. identification- risk register (database of risks)
3. qualitative- impact prob. records, exposure & priority
4. quantitative- exposure catalog
5. responses mitigation
6. monitor & control
7. post project review and corporate risk register